Many are worrying “they can’t repay Debts” and what solutions there are?
Affected by Covid-19?
If you owe creditors you can make arrangements to pay your debts.
Your debt solutions depend on the amount of money and assets you have.
Types Of Debts
There are many types of creditors you might owe money to.
Credit Card Debt
Credit cards are
You can pay your debts in instalments by setting up:
- a Debt Management Plan which is an agreement with your creditors managed by a financial company
- an Administration Order when you’ve had a county court judgment (CCJ) or a High Court judgment (HCJ) against you for debts under £5,000
- an Individual Voluntary Arrangement which is managed by an insolvency practitioner
In Scotland, you can arrange a Debt Payment Programme from the Debt Arrangement Scheme.
You may also have the option of reaching an informal agreement with your creditors.
There are many options for your debt troubles and it is always best to speak with a debt advisor.
All phonecalls are no obligation and private for peace of mind.